Cassiar Gold drills 0.66 g/t gold over 50.2 metres at Cassiar South, British Columbia
Cassiar Gold Corp. [GLDC-TSXV; CGLCF-OTCQX] reported assay results from the remaining 13 previously unreported drill holes from the Cassiar South project area, far northern British Columbia, as part of the 2022 exploration program completed at the company’s flagship Cassiar gold property. The results reported here are part of continuing efforts to further explore for extensions of, and for new parallel veins associated with the high-grade, historically producing mines at Cassiar South.
Cassiar Gold’s 2022 exploration program comprised 23,000 metres in 70 diamond drill holes focused on strategic areas of the Taurus deposit, as well as significant vein prospects in Cassiar South and other brownfields targets. These 13 drill holes totalling 5,259 metres reported here represent the final results from the company’s 2022 drill program.
Highlights from the Cassiar South project area: Drill hole 22MM-001 intersected 15.9 metres of 0.98 g/t gold, including 5.9 metres of 1.50 g/t gold, 120 metres west of historical workings and 260 metres northwest of previously mined vein segments at the Main Mine area.
Drill hole 22MM-003 intersected multiple mineralized intercepts which support the interpreted orientation of mineralized veins encountered in 22MM-001, returning 50.2 metres of 0.66 g/t gold from 126.9 metres downhole, including 8.6 metres of 0.95 g/t gold and 10.3 metres of 0.92 g/t gold; 15.6 metres of 1.22 g/t gold from 197.0 metres downhole; and 9.0 metres of 1.01 g/t gold from 219.8 metres downhole.
Multiple intercepts above 4.00 g/t gold were returned from additional vein targets, including 0.6 metres of 4.18 g/t gold from 255.5 metres in drill hole 22MM-002 at the Main Mine area; 2.0 metres of 4.80 g/t gold from 28.0 metres in drill hole 22VOL-701 and 1.2 metres of 5.77 g/t gold from 28.7 metres in drill hole 22VOL-701A at the Vollaug target area; and 7.20 g/t gold over 0.8 metres from 21.5 m in drill hole 22CU-407 at the Cusac area.
All holes drilled intersected gold-bearing quartz veins containing anomalous to high-grade gold across target areas reported in this news release. Mineralization encountered at the Main Mine area occurs within an unmined area with extensive alteration and vein density suggesting proximity to major shear veins.
“Our drill program at Cassiar South encountered gold mineralization in all drill holes, achieving our program objectives and supporting our exploration model,” stated Marco Roque, CEO. “We are eager to build upon the successes of our exploration efforts to-date during the 2023 exploration campaign, which is anticipated to start in early June.”
The Cassiar South project area of the Cassiar Gold Property hosts numerous shear vein targets and several past-producing underground mines including the Bain, Cusac, Vollaug and Main Mines, which have historically produced over 315,000 ounces of gold grading between 10 to 20 g/t gold. The past producing high-grade Vollaug vein is known to have a strike length of up to 3 km.
Together, the results of drilling reported from Cassiar South in 2022 from this and previous news releases continue to demonstrate the potential for further expansion of past-producing vein systems and encountering previously untested gold-bearing veins on the property. These results reinforce the potential to identify additional high-grade gold-bearing structures at the project area similar to those mined historically, highlighting the importance of advancing exploration in this area.
Cassiar Gold has a 100% interest in its flagship Cassiar Gold Property that spans 590 km2 and consists of two main project areas: Cassiar North, which hosts a NI 43-101-compliant inferred resource estimate of 1.4Moz at 1.14 g/t Au (cutoff grade of 0.5 g/t Au) known as the as the Taurus Deposit. Historical underground mines in the Cassiar South area have yielded over 315,000 oz of Au at average grades of between 10 and 20 g/t Au underscoring the high potential for further discovery and expansion of high-grade orogenic gold veins.